For many years, the US Government has attempted to lower the cost of living by increasing minimum wage. While this has been shown to work in the short term, it has also led to rampant inflation and has not done a thing about those higher-up in the industry from siphoning off and hoarding excess profits. As of 2009, the average CEO pay was around 185 times that of the average worker.
We propose that a maximum wage be instituted, capping pay and bonuses for the highest paid employees of any business at no more than 10 times that of the average worker. This will hopefully achieve the following
1. Lower cost of living due to lower amounts of profit wasted on CEO salaries.
2. Slower inflation rates due to lower cost of living.
3. Raised pay rates for low-to-middle income workers